Latest news with #KNBalagopal
Time of India
12 hours ago
- Business
- Time of India
Rs 25 crore top prize: Thiruvonam Bumper lottery launched
T'puram: Finance minister K N Balagopal on Monday launched the Thiruvonam Bumper lottery, which offers a first prize of Rs 25 crore. The minister said that the state lottery, which creates thousands of winners, serves as a lifeline for nearly a 1 lakh underprivileged people. "While a foreign lottery offering a Rs 25 crore prize might cost around Rs 15,000, the Kerala lottery with the same prize is available for just Rs 500. The transparency and reliability of its operations have made the Kerala lottery very popular," Balagopal said. The Thiruvonam Bumper lottery also features a second prize of Rs 10 crore each for 20 winners, a third prize of Rs 5 crore each for 20 winners, a fourth prize of Rs 5 lakh and a fifth prize of Rs 2 lakh. Additionally, prizes ranging from Rs 500 to 5,000 are also available. The lottery was launched at an event attended by MLAs Antony Raju and V K Prasanth. Director of the lottery department, Abraham Ren, welcomed the gathering. The chairman of the lottery welfare board, T B Subair, and other officials from the lottery department were also present.
Time of India
4 days ago
- Business
- Time of India
Welfare pension distribution begins today; 831cr allotted
T'puram: The distribution of welfare pension for July will begin on Friday, said finance minister K N Balagopal. A sum of Rs 831 crore was allocated for the purpose, the minister said in an official release on Thursday. Nearly 62 lakh people are receiving Rs 1,600 each as welfare pension under various categories. The amount will reach the bank accounts of more than 26 lakh people. Pension will be transferred to the homes of others through cooperative banks. The union govt will pay the central share of the National Pension Scheme to 8.46 lakh people. The state has also sanctioned Rs 24.31 crore for this on an advance basis. The share will be credited to the bank accounts of the beneficiaries through the central govt's public finance management system (PFMS), the release said. PTI
New Indian Express
02-07-2025
- Business
- New Indian Express
Practical problems of GST yet to be resolved, says Finance Minister Balagopal
THIRUVANANTHAPURAM: Finance Minister K N Balagopal, on Tuesday, said that some practical problems of Goods and Service Tax (GST), which were evident from the beginning, are yet to be resolved. 'I was one of the few people who expressed dissent over GST in the joint select committee due to these problems,' the minister said, after inaugurating the GST Day celebrations of CGST Thiruvananthapuram zone at the Tagore Theatre. 'Though said to be barrier-free, certain issues are persistent in the GST domain,' said the minister, highlighting the need to increase the state's IGST share. 'Even though the state's GST collection growth is 24% between May 2024 and May 2025, the revenue growth in the same time frame is only 9%,' said Balagopal. Clarifying that this doesn't imply a complete rejection of the GST system, the finance minister also appreciated the collaborative efforts of central GST and state GST, adding that measures are being taken to bring in a uniform pattern of taxation among various products under the same domain. Actor Mohanlal was awarded the top taxpayer in the performing arts category of the Thiruvananthapuram zone at the ceremony. 'Paying taxes properly and guarding the country as a soldier, both are part of serving the nation,' said Mohanlal. The function was also attended by chief commissioner (CGST & Customs) Shaik Khader Rahman and commissioner (GST & Central Excise) K Kalimuthu. Commendation certificates for CGST officers and tax compliance excellence recognition awards for institutions were distributed at the ceremony.
Time of India
22-06-2025
- Business
- Time of India
Kerala finance minister allocates funds for market intervention and local health centres
Thiruvananthapuram: Finance minister K N Balagopal announced that Rs 100 crore was allocated to the state civil supplies corporation for market intervention activities. The funding is intended to support various initiatives aimed at preventing the rise in prices of essential commodities. In this year's budget, Rs 250 crore was set aside for Supplyco's market interventions. With the current allocation, it will be possible to ensure the advance procurement of essential goods, including for the Onam season, the minister said. In last year's budget, Rs 250 crore was allocated for Supplyco's market interventions, but Rs 489 crore was granted, providing an additional Rs 284 crore. From 2011-12 to 2024-25, govt provided Rs 7,630 crore to support Supplyco's direct market interventions over a span of 15 years. Of this, only Rs 410 crore was given during the five years of the previous UDF govt, while the remaining Rs 7,220 crore was allocated by the LDF govt, Balagopal said. The finance minister said an additional Rs 335 crore was also allocated to local self-govt institutions in the state. This grant, recommended by the finance commission, is intended to strengthen the operations of community health centres, family health centres and urban health and wellness centres. A total of Rs 199 crore is designated for community and family health centres under the jurisdiction of panchayats, while Rs 136 crore is allocated for urban health and wellness centres. So far, govt allocated Rs 4,386 crore for local institutions this fiscal year. Previously, Rs 2,150 crore was provided as the first instalment of the development fund, Rs 78 crore as an unconditional fund, Rs 1,396 crore as the first instalment of the maintenance fund and Rs 427 crore in two instalments of the general-purpose fund.
Time of India
21-06-2025
- Business
- Time of India
Welfare pension distribution started in state: Min
T'puram: Finance Minister K N Balagopal said the distribution of welfare pension for the month of June began in the state on Saturday. It was announced that the pension distribution would start on June 20. For this, Rs 825.71 crore was sanctioned on Friday. This amount was also transferred to the banks. The vast majority of people who receive their pension through bank accounts received their pension on Saturday. Others will receive it in the coming days. The minister said the KPCC president's allegation that the govt did not pay the welfare pension this month was baseless. He made the statement without understanding the procedures and technicalities of pension distribution, Balagopal said. Welfare pensions are to be distributed to around 62 lakh people in the state. This process takes days to complete. Every month, from the 1st to the 15th, beneficiaries can be mustered. The beneficiary list for the respective month is finalised after the 15th by including those who are mustered in this way. Then, based on the number in the list provided by the panchayat director, the amount is sanctioned, an order is issued and the amount is transferred. About half of the social security pensioners will have their pension amount credited to their bank accounts. The amount for those who deliver money to their homes will be transferred to the district cooperative joint registrar. The pension will be transferred to the cooperative bank through which they are paid. The secretary of the concerned cooperative bank will hand over the list and money to the officer assigned for distribution in each ward. He will distribute the amount and report. The money for the welfare fund boards will be transferred to the concerned board. The respective board will distribute the amount. It is not possible to complete all these procedures and deliver the pension to everyone in a single day. The minister also clarified that pension is distributed every month through this procedure.
